THE profit rates for the National Savings Schemes were last revised effectively on Jan 2, owing to a 150 basis point increase (from 8.5 to 10pc) in benchmark interest rates
annouAnced by the State Bank of Pakistan.
MUSCAT: Oman is not going to increase benchmark interest rates
although four Gulf states did so, following the US Federal Reserve's interest rate hike last week.
TOKYO, Oct 23 (KUNA) -- China's central bank said Friday it will cut benchmark interest rates
and the reserve requirement ratio for banks in an attempt to revive slowing economic growth.
This comes amid signals by the Bangko Sentral ng Pilipinas (BSP) that benchmark interest rates
would be kept on hold in the coming months to allow previous increases to work their way into the economy.
In July, the banking company was fined USD370m for attempting to manipulate benchmark interest rates
, including the LIBOR.
THREE former employees of Barclays have been charged in relation to the alleged manipulation of Libor benchmark interest rates
. They were named by the Serious Fraud Officeas Jay Vijay Merchant, Alex Julian Pabon and Ryan Michael Reich.
stocks fell Wednesday for the first time in three days as Federal Reserve Chair Janet Yellen said the central bank's stimulus program could end this fall and benchmark interest rates
could rise six months later.
Department of Justice (DOJ) and the U.K.'s Financial Services Authority (FSA) over allegations of attempting to manipulate and making false reports concerning global benchmark interest rates
, LIBOR and EURIBOR.
This was the second time that Chinas central bank raised the benchmark interest rates
this year and the fourth such increase since the start of last year.
Taiwan's central bank has raised its benchmark interest rates
by 12.5 basis points.
The NYDFS said in a press release late Thursday that the bank is to terminate and ban individual employees who engaged in misconduct, and install an independent monitor for New York Banking Law violations in connection with the manipulation of the benchmark interest rates
. The overall USD 2.5 billion penalty includes USD 600 million to the NYDFS, USD 800 million to the Commodities Futures Trading Commission (CFTC), USD 775 million to the US Department of Justice (DOJ), and approximately USD 340 million to the United Kingdom's Financial Conduct Authority (FCA).